Topic: [ANN] Sia - Decentralized Storage - page 53. (Read 1382227 times)
I have another question. Once you download the Sia wallet should I back up the wallet before or after I send coins to it? Or does it matter? And if it is after do I have to back it up every time I add or subtract coins from the wallet?
you have the ability to wait for longer then the price will automatically increase in the market. I see Sia coin has huge potential but now a days there are many good coins generating more huge volumes..
PRL with its SHL will be giving SIA a run for their money. Especially since SHL will be airdropped to PRl holders
Back to my point...if ASIC's are needed for the decentralized network they plan and the NETWORK IS NOT IN PLACE YET to compete with Amazon
at the supposed 10c to 1.00 format, etc...and IF the siacoin price NOW is based on scarcity..it won't matter...no one will turn on equip of any flavor
asic, gpu or otherwise for a coin that has no value in that it is 1) no longer based on scarcity for price (esp if 5x the ASIC's driving up difficulty and coin
production) and 2) no network for these ASIC's to contribute to.
you can't have both the coin is either 1) valuable because of scarcity vs use or 2) valutble for use in their decentralized network
I'm just saying I see no such decentralized network in place in any manner large enough nor complete enough to pull the price out of the dumps ..indeed
it will make it worse for price of siacoin in the obvious fact of no network in place and a lot of asic's sitting about..folk will NOT run their asic's at an electrial
loss....price of siacoin will not stay up just on speculaltion of network coming and previous scarcity ..thus plunk
if you doubt that look at the amount of asic's that were dumped vs the LTC price as of today...difficulty overstepped the value of the coin (LTC) ...
so a muddled mess indeed..hope it won't happen....but not hearing a lot of the decentralized network hitting the world at the same time as all the asic's
hit the siacoin world either
sure, amount of sia coin will be 'the same' but a lot of coin does not mean it keeps value....
Again, even if it dropped back to GPU mining and the ASIC's are off the electric use is the same more or less....the coin will not survive if they
say they made a mess of ASIC's for their decentralized solution to storage...and 'guess what' it is not there or they postpone it for a year
and the current crop of asic's are of no use to run....speculators will walk, gpu miners will not compete with asic's that also are going to go
off or in a dismal state...it is like the old paycoin cloud mining viewpoint...if the rug is pulled out from under the concept..than it won't matter
how many coin there are....the consumers will go to more successful coins, that would not have the damage of the above from a late
network launch and asic's in the tank unable to be used for anything of note, because price of siacoin tanks on the above fiasco.
Sure the network would survive, sure sia-tech would likely survive even such a missed launch...but could siacoin ever recover after such
a fiasco...doubtful...money talks and bullsh*t walks....folk would walk with eventual coin being worth nothing in their vision was not up to
speed on the storage solution when they said and with the asic dump (investment) of equipment not able to be used....ie coin would tank
and likely stay tanked in price IMHO, would be too much of a boat anchor on development etc, folk would move on to other projects with
such a failure, again IMHO.
You miss the point...look at your LTC example...people give up, difficulty drops, remaining people earn more...then people that gave up come back, and back-forth
few times, it settles at perfect point for most people involved
As for SIA coin and its future purpose...you described 98% coins on the market...wheres monaco VISAcard? Wheres OmiseGO network? Do STORJ have
finished product? etc
We can only hope (and technically savvy maybe check for themselves) that team is doing right and folowing its roadmap
ah, I was unclear, with LTC and scrypt-pow 90% of all the miners that are on that network are Bitmain L3+'s THE SAME MODEL AND GENERATION OF MINERS, thus some folk contact me
they are losing 12c a day
on such a unit and myself I'm losing at 14c kwh in a data hall 64c a day. BUT EVERYONE IS LOSING AND UNDER WATER ...THE SAME. Thus when diff goes down, don't' matter everyone
is up, when diff goes down everyone shuts down..but the price never changes because ALL THE SAME TYPE AND GENERATION OF EQUIPMENT...so we can go along
and follow difficulty up and down..but if there is MORE equipment at the high difficulty than there is coin ..that people want to buy (LTC and all scrypt pow coins now)
then EVENTUALLY, everyone will turn off the miners, because at every difficulty drop or rise they are on/off thus difficulty for scrypt pow anyway..which is calculated
every 3 days...never REALLY goes down...same unicorns...all mining at a loss at $120 LTC I was losing 45c a day at 88 LTC I'm losing 67c a day..see....all the same units involved.
same thing with siacoin....IF you have a lot of ASIC's and NO reason for the price of siacoin because the decentralized network is not up when the ASIC's are turned
on they are NOT turned on...IF there is a profit ..even briefly, they ALL turn on, thus negating your price...you have to pay electric on your units..so eventually, you
just don't pay the electric and no one mines at a loss...their vision has to be up and hitting the world in stride to compete in the next 2 weeks or so, i don't see this as likely.
this is IF they don't have the decentralized network using ASIC's at 10c to $1.00 amazon prices in place...if the price of siacoin is based on this idea of this network
being up and running and the ASIC's need it up and running to at least break even on electric..the whole thing fails...because the current price is based on this idea it
will be up (speculation) and with ASIC's the scarcity of coin issue goes away as difficulty goes up rapidly as everyone mines.
My premise is they HAVE TO WANT TO KEEP AND HODL SIACOIN ..the NON-ASIC miners....and the ASIC miners need a price to pay electric at least to break even
and some extra siacoin in the bank for their troubles...NONE of this will be possible if you simply have a mess of ASIC'S making coin and the decentralized network and their
siacoin storage solution is not in place and getting folk to buy it..if
is not in place..that is called FAILURE and the NON-Miner's who are buying and holding siacoin will stop doing so...and the coin will dump to dust.
So the faith in the coin is based on their vision and the investment on that vision by folk who got ASIC's you take that away, because their supposed decentralized
network is not in place for the folk that invested in the ASIC'S ..WHAT DO YOU THINK WILL HAPPEN? PLUNK DOWN SHE GOES
can't have it both ways, the blockchain does not exist just because the coin exists....the coin exist as its vision dictates ..the shafting of say those who got
ASIC's and any big delay in getting their decentralized network to MAKE $$$$ to compete against amazon as their vision....will also add to the tanking or
failure of their coin...I just don't see any real promotion or communication that they can jump into JULY 2018 and take enough cloud storage away from folk
to make money and get the ASIC's up to mine the network for this to work out of the box.
You can't state the coin does such and such, and the network will be ready by so and so, and not deliver to folk who already have sia-coin (HODL) and
have invested in specific ASIC's and not be able to even make electric costs back...the coin will tank in purpose/project and price.
AS this relates to current difficulty with scrypt-pow and LTC ...again, all the same equipment...with the same issues as sia-tech equipment, no one has any advantage
side point on the LTC ..they are all the same equipment (L3+'s) NO ONE HAS AN ADVANTAGE MINING IT IS ALL AT A LOSS.
AS to Bitmain units that do blake2b at 815mh and 1,375 watts....with the majority of
Bitmain units PROBABLY out of the running at 1,375 watts for 815mh....the remaining units of which Obelisk sc-1's at 800mh and 500 watts are probably a
good 90% of all the equipment ..THAT CURRENTLY CAN RUN AT THESE SIACOIN PRICES...thus.waiting for the decentralized network it is THE SAME AS THE CURRENT
scrypt-pow and L3+ miners...NO ONE HAS ANY
ADVANTAGE IN EQUIPMENT OVER ANYONE ELSE with rising difficulty..thus all go off and on at the same time ...especially if they are mining at an
electrical loss...a future/supposed NEXT GENERATION EQUIPMENT may work as you state...it does not exist ..at least from other mnfgs at a price point
vs mining vs electric that would make any difference..that I can tell now, .indeed it could be just GPU miners doing it on the side..but at prices an ASIC can make
siacoin vs the price ..even that would not make sense..in ASIC's are more efficient ..that also IMHO, would be very short lived.
again, the whole thing has to come together to cover the ASIC network, sia coin storage vision in place, to keep/get the price to a point that the
ASIC's can maintain the network of decentralized storage at a price that makes sense over electric..again if that is not met ..and EVERYONE
has the same equipment and NO advantage, again, IMHO, it never gets off the ground, price tanks, and the project dies.
again, can't have your cake and eat it too....all have to come together UNLESS a new more eff miner comes out...but then again, once
burnt by these now previous never to ROI miners that are behind the curve even before the launch...no one would buy...
so tell me the network is ready and in place to compete with Amazon centralized storage and the rest via siacoins vision of decentralized storage, competing from the get go
with siacoin ASIC'S can make more than they use in electric and all is well...but not seeing enough noise/hype etc on this happening...again, deafening silence
in that the majority of ASIC's by Sia-Tech are to be dumped into the world by the July 15th, 2018.
Again, using the scrypt-pow and LTC universe and the same type of equipment as an example..the ASIC's in that coin universe ran difficulty up to such a point
with the same equipment, (thus no advantage due to no competition) that now the price can't catch up and the network is in danger of collapsing and super
sizing the price down even further.
Again, without their vision in place and running alongside the ASIC's and competing with the Amazon centralized storage and a real good reason with the price less, to
be a great alternative to Amazon Storage...or the whole endeavor..well,
it will all not get off the ground...stuck
anyway, perhaps I'm incorrect...but again, not seeing it...
and again, hope I'm wrong (I'm 5 obelisks into their vision and competition..really want to be wrong)
brad
Back to my point...if ASIC's are needed for the decentralized network they plan and the NETWORK IS NOT IN PLACE YET to compete with Amazon
at the supposed 10c to 1.00 format, etc...and IF the siacoin price NOW is based on scarcity..it won't matter...no one will turn on equip of any flavor
asic, gpu or otherwise for a coin that has no value in that it is 1) no longer based on scarcity for price (esp if 5x the ASIC's driving up difficulty and coin
production) and 2) no network for these ASIC's to contribute to.
you can't have both the coin is either 1) valuable because of scarcity vs use or 2) valutble for use in their decentralized network
I'm just saying I see no such decentralized network in place in any manner large enough nor complete enough to pull the price out of the dumps ..indeed
it will make it worse for price of siacoin in the obvious fact of no network in place and a lot of asic's sitting about..folk will NOT run their asic's at an electrial
loss....price of siacoin will not stay up just on speculaltion of network coming and previous scarcity ..thus plunk
if you doubt that look at the amount of asic's that were dumped vs the LTC price as of today...difficulty overstepped the value of the coin (LTC) ...
so a muddled mess indeed..hope it won't happen....but not hearing a lot of the decentralized network hitting the world at the same time as all the asic's
hit the siacoin world either
sure, amount of sia coin will be 'the same' but a lot of coin does not mean it keeps value....
Again, even if it dropped back to GPU mining and the ASIC's are off the electric use is the same more or less....the coin will not survive if they
say they made a mess of ASIC's for their decentralized solution to storage...and 'guess what' it is not there or they postpone it for a year
and the current crop of asic's are of no use to run....speculators will walk, gpu miners will not compete with asic's that also are going to go
off or in a dismal state...it is like the old paycoin cloud mining viewpoint...if the rug is pulled out from under the concept..than it won't matter
how many coin there are....the consumers will go to more successful coins, that would not have the damage of the above from a late
network launch and asic's in the tank unable to be used for anything of note, because price of siacoin tanks on the above fiasco.
Sure the network would survive, sure sia-tech would likely survive even such a missed launch...but could siacoin ever recover after such
a fiasco...doubtful...money talks and bullsh*t walks....folk would walk with eventual coin being worth nothing in their vision was not up to
speed on the storage solution when they said and with the asic dump (investment) of equipment not able to be used....ie coin would tank
and likely stay tanked in price IMHO, would be too much of a boat anchor on development etc, folk would move on to other projects with
such a failure, again IMHO.
You miss the point...look at your LTC example...people give up, difficulty drops, remaining people earn more...then people that gave up come back, and back-forth
few times, it settles at perfect point for most people involved
As for SIA coin and its future purpose...you described 98% coins on the market...wheres monaco VISAcard? Wheres OmiseGO network? Do STORJ have
finished product? etc
We can only hope (and technically savvy maybe check for themselves) that team is doing right and folowing its roadmap
As far as I understand it...sia-tech was NEVER interested in the siacoin price in that it was based on SCARCITY...they wanted sia to be used by their
ASIC's in a network for the ASIC security...these coins would gain their worth from the use in the ASIC network and the 30% inflation was needed
to expand this decentralized ...cheap 10c to the $1.00 alternative to Amazon and other centralized networks...
thus..it was always assumed by me (at least) that as soon as these ASIC's hit their decentralized network..the network would determine the worth
of siacoin no longer the scarcity from GPU mining etc. What confuses me is IF this was really their goal then why they did not fork siacoin to retain
control over the amount of ASIC miners is a mystery to me...it will be much more than 30% coin inflation a month now...
The good news is IF, they have the sia-tech ready to go for when these ASIC's hit in July and start to firm up the backbone for their vision..no issues
but I hear NOTHING about HOW they plan to convert folk from known centralized storage like Amazon into their vision with NO promotion I'm aware of...
also, no mention of what they are going to do with 5x the ASIC's they expected (if you take out the bitmain units as no longer profitable..a bit iffy that)
right now on coin price...if I had my units NOW I'd make $1 a day...per obelisk unit....thus....the network vision they have tried to do has to come
up to speed and take up the slack or NO ASIC miners will run their network if it costs more than the present siacoin price to run them
but, hey, they got a lot of BTC from the pre-orders last year ..the ave price was like 0.97 BTC in my case....back last July 2017 or so....they did not fork
the coin..after bitmain equipment dump....so maybe they have siacoin in hand and/or the BTC still in hand to cover all the equipment/research etc in the
ASIC's they put out ..so no risk to them there....I just don't see sia-tech having anything on the line with all this either as getting their network up in
time..nor on their 4 batches of obelisks, none of them have shipped yet, where is the hype? where are the promo's? how are you gonna take on Amazon?
deafening silence....
just wonder if they will just watch the ASIC network all kick in...and they will dwadle around half-assed wait and not get their network up in any legit time frame
and it will fail...(a big ho hum from them) and no real risk to them, with all risk on those who are speculating in siacoin and those who bought their line on their ASIC
network vision of 'competing' with Amazon...damn hard to compete if the folk gonna buy in have never heard of your vision/option and no scale-up at all!
from sia-tech already paid for..probably many times over if they kept some of the payments in bitcoin...asic miners left holding the bag
1) ASIC's from obelisk and others, come up...can't mine at present prices...no network of any note to support such..ASIC buyers left holding the bag...
2) folk speculating on siacoin, price can't support itself from all the ASIC's driving up difficulty and price..no more scarcity for price....are left holding the bag
3) after the dust settles ..they can go the new algo route on the letter they sent out with different algo makers and put their decentralized network or
use this now defunct protocol with other asic's in the future...after all the above crashes...lots of options..or they can just fold shop and walk with no issues.
...on that...if it takes them another year to get up to speed to launch anything....see 1) and 2) above of those screwed...but as to the devs and sia-tech
as a whole...no real risk.....called having your cake and eat it too...as an asic maker and or a dev....by that I mean the network gets up..when the network
gets up....dev is set for life as a crypto holder....like luke jr. of bitcoin core...screw everybody...it gets up when they feel like it ..ie again no risk /pressure...
rinse/wash/repeat ..seen this before with projects
so the question remains...if the price is not in the speculation of siacoins for scarcity etc because a crapload of siacoin ASIC's from different mnfg's and
Obelisk ASIC's are going to turn on ...if in sia-tech obelisk's case...middle of July 2018....is their vision/network up to the task of keeping these beasties up
to even support the network...or are you just mining promised and air? ...again, likely future 'bag holder'
you have to have use/volume and their decentralized network 'in play' to pay electric and make extra coin for yourself via the network or all is moot..
or again, is the project not ready, and it is not in their control and thus they are just gonna watch it implode....blame bitmain, blame other mnfg's with blake2b ASIC's and
kick the can down the road...as a re-do? or hell just fold up the project..take whatever income or profits made in the last year or so and walk?
again, seen this before on projects
again, deafening silence on any/all of the above issues
thats how i understand stuff at this point in time anyway...they have to hit the ground running or come the end of July when the ASIC's hit ..I just have
a mess of Obelisk doorstops...
brad
I think you miss some fundamentals here...with influx of ASICS, NOTHING changes with amount of sia coins produced...1 billion ASICS
would produce same number of coins as 3 GPUs (if network would drop down to 3 GPUs level, that is)...only difficulty rises, making
it harder to stay competitive
Back to my point...if ASIC's are needed for the decentralized network they plan and the NETWORK IS NOT IN PLACE YET to compete with Amazon
at the supposed 10c to 1.00 format, etc...and IF the siacoin price NOW is based on scarcity..it won't matter...no one will turn on equip of any flavor
asic, gpu or otherwise for a coin that has no value in that it is 1) no longer based on scarcity for price (esp if 5x the ASIC's driving up difficulty and coin
production) and 2) no network for these ASIC's to contribute to.
you can't have both the coin is either 1) valuable because of scarcity vs use or 2) valuable for use in their decentralized network
I'm just saying I see no such decentralized network in place in any manner large enough nor complete enough to pull the price out of the dumps ..indeed
it will make it worse for price of siacoin in the obvious fact of no network in place and a lot of asic's sitting about..folk will NOT run their asic's at an electrial
loss....price of siacoin will not stay up just on speculation of network coming and previous scarcity ..thus plunk
if you doubt that look at the amount of asic's that were dumped vs the LTC price as of today...difficulty overstepped the value of the coin (LTC) ...
so a muddled mess indeed..hope it won't happen....but not hearing a lot of the decentralized network hitting the world at the same time as all the asic's
hit the siacoin world either
sure, amount of siacoin will be 'the same' but a lot of coin does not mean it keeps value...
Again, even if it dropped back to GPU mining and the ASIC's are off the electric use is the same more or less....the coin will not survive if they
say they made a mess of ASIC's for their decentralized solution to storage...and 'guess what' it is not there or they postpone it for a year
and the current crop of ASIC's are of no use to run....speculators will walk, GPU miners will not compete with ASIC's that also are going to go
off or in a dismal state...it is like the old paycoin cloud mining viewpoint...if the rug is pulled out from under the concept..than it won't matter
how many coin there are....the consumers will go to more successful coins, that would not have the damage of the above from a late
network launch and asic's in the tank unable to be used for anything of note, because the price of siacoin tanks on the above fiasco.
Sure the network would survive, sure sia-tech would likely survive even such a missed launch...but could siacoin ever recover after such
a fiasco...doubtful...money talks and bullsh*t walks....folk would walk with the eventual coin being worth nothing in their vision was not up to
speed on the storage solution when they said and with the ASIC dump (investment) of equipment not able to be used....ie coin would tank
and likely stay tanked in price IMHO, would be too much of a boat anchor on development etc, folk would move on to other projects with
such a failure, again IMHO.
AGAIN, I HOPE I am DEAD WRONG!
but they can't have BOTH, but the kind of investment into blake2b siacoin and say it is based on a network being in place when such ASIC's hit the world and MISS
such, having it not in place. That is a significant investment in the future of siacoin 'tossed away' if you can't even turn them on due to siacoin price (again,
without such a network in place ...a network in place and I'm wrong...I'm saying I see now hype or network in place to hit the ground running to compete
against amazon etc...and feel that needs to be so)
so anyway, with such a significant amount of folk investing in such equipment and you can't even run it due to the electric..the price of siacoin would further dump
and thus all that potential investment from equipment in asic's and siacoin 'cheerleaders' on price and promotion is lost...and with such a boat anchor
the coin itself likely would not recover..this is the fear...a working up to speed network ready for the ASIC's to hit the siacoin universe and I'm incorrect
which I hope.but as of now ..not seeming to me to be likely from what I've heard.
as to the ASIATECH quote above...not sure what was meant..no bitcointalk thread by that name I can find...sent a pm to clarify.
brad
As far as I understand it...sia-tech was NEVER interested in the siacoin price in that it was based on SCARCITY...they wanted sia to be used by their
ASIC's in a network for the ASIC security...these coins would gain their worth from the use in the ASIC network and the 30% inflation was needed
to expand this decentralized ...cheap 10c to the $1.00 alternative to Amazon and other centralized networks...
thus..it was always assumed by me (at least) that as soon as these ASIC's hit their decentralized network..the network would determine the worth
of siacoin no longer the scarcity from GPU mining etc. What confuses me is IF this was really their goal then why they did not fork siacoin to retain
control over the amount of ASIC miners is a mystery to me...it will be much more than 30% coin inflation a month now...
The good news is IF, they have the sia-tech ready to go for when these ASIC's hit in July and start to firm up the backbone for their vision..no issues
but I hear NOTHING about HOW they plan to convert folk from known centralized storage like Amazon into their vision with NO promotion I'm aware of...
also, no mention of what they are going to do with 5x the ASIC's they expected (if you take out the bitmain units as no longer profitable..a bit iffy that)
right now on coin price...if I had my units NOW I'd make $1 a day...per obelisk unit....thus....the network vision they have tried to do has to come
up to speed and take up the slack or NO ASIC miners will run their network if it costs more than the present siacoin price to run them
but, hey, they got a lot of BTC from the pre-orders last year ..the ave price was like 0.97 BTC in my case....back last July 2017 or so....they did not fork
the coin..after bitmain equipment dump....so maybe they have siacoin in hand and/or the BTC still in hand to cover all the equipment/research etc in the
ASIC's they put out ..so no risk to them there....I just don't see sia-tech having anything on the line with all this either as getting their network up in
time..nor on their 4 batches of obelisks, none of them have shipped yet, where is the hype? where are the promo's? how are you gonna take on Amazon?
deafening silence....
just wonder if they will just watch the ASIC network all kick in...and they will dwadle around half-assed wait and not get their network up in any legit time frame
and it will fail...(a big ho hum from them) and no real risk to them, with all risk on those who are speculating in siacoin and those who bought their line on their ASIC
network vision of 'competing' with Amazon...damn hard to compete if the folk gonna buy in have never heard of your vision/option and no scale-up at all!
from sia-tech already paid for..probably many times over if they kept some of the payments in bitcoin...asic miners left holding the bag
1) ASIC's from obelisk and others, come up...can't mine at present prices...no network of any note to support such..ASIC buyers left holding the bag...
2) folk speculating on siacoin, price can't support itself from all the ASIC's driving up difficulty and price..no more scarcity for price....are left holding the bag
3) after the dust settles ..they can go the new algo route on the letter they sent out with different algo makers and put their decentralized network or
use this now defunct protocol with other asic's in the future...after all the above crashes...lots of options..or they can just fold shop and walk with no issues.
...on that...if it takes them another year to get up to speed to launch anything....see 1) and 2) above of those screwed...but as to the devs and sia-tech
as a whole...no real risk.....called having your cake and eat it too...as an asic maker and or a dev....by that I mean the network gets up..when the network
gets up....dev is set for life as a crypto holder....like luke jr. of bitcoin core...screw everybody...it gets up when they feel like it ..ie again no risk /pressure...
rinse/wash/repeat ..seen this before with projects
so the question remains...if the price is not in the speculation of siacoins for scarcity etc because a crapload of siacoin ASIC's from different mnfg's and
Obelisk ASIC's are going to turn on ...if in sia-tech obelisk's case...middle of July 2018....is their vision/network up to the task of keeping these beasties up
to even support the network...or are you just mining promised and air? ...again, likely future 'bag holder'
you have to have use/volume and their decentralized network 'in play' to pay electric and make extra coin for yourself via the network or all is moot..
or again, is the project not ready, and it is not in their control and thus they are just gonna watch it implode....blame bitmain, blame other mnfg's with blake2b ASIC's and
kick the can down the road...as a re-do? or hell just fold up the project..take whatever income or profits made in the last year or so and walk?
again, seen this before on projects
again, deafening silence on any/all of the above issues
thats how i understand stuff at this point in time anyway...they have to hit the ground running or come the end of July when the ASIC's hit ..I just have
a mess of Obelisk doorstops...
brad
I think you miss some fundamentals here...with influx of ASICS, NOTHING changes with amount of sia coins produced...1 billion ASICS
would produce same number of coins as 3 GPUs (if network would drop down to 3 GPUs level, that is)...only difficulty rises, making
it harder to stay competitive
Back to my point...if ASIC's are needed for the decentralized network they plan and the NETWORK IS NOT IN PLACE YET to compete with Amazon
at the supposed 10c to 1.00 format, etc...and IF the siacoin price NOW is based on scarcity..it won't matter...no one will turn on equip of any flavor
asic, gpu or otherwise for a coin that has no value in that it is 1) no longer based on scarcity for price (esp if 5x the ASIC's driving up difficulty and coin
production) and 2) no network for these ASIC's to contribute to.
you can't have both the coin is either 1) valuable because of scarcity vs use or 2) valutble for use in their decentralized network
I'm just saying I see no such decentralized network in place in any manner large enough nor complete enough to pull the price out of the dumps ..indeed
it will make it worse for price of siacoin in the obvious fact of no network in place and a lot of asic's sitting about..folk will NOT run their asic's at an electrial
loss....price of siacoin will not stay up just on speculaltion of network coming and previous scarcity ..thus plunk
if you doubt that look at the amount of asic's that were dumped vs the LTC price as of today...difficulty overstepped the value of the coin (LTC) ...
so a muddled mess indeed..hope it won't happen....but not hearing a lot of the decentralized network hitting the world at the same time as all the asic's
hit the siacoin world either
sure, amount of sia coin will be 'the same' but a lot of coin does not mean it keeps value....
Again, even if it dropped back to GPU mining and the ASIC's are off the electric use is the same more or less....the coin will not survive if they
say they made a mess of ASIC's for their decentralized solution to storage...and 'guess what' it is not there or they postpone it for a year
and the current crop of asic's are of no use to run....speculators will walk, gpu miners will not compete with asic's that also are going to go
off or in a dismal state...it is like the old paycoin cloud mining viewpoint...if the rug is pulled out from under the concept..than it won't matter
how many coin there are....the consumers will go to more successful coins, that would not have the damage of the above from a late
network launch and asic's in the tank unable to be used for anything of note, because price of siacoin tanks on the above fiasco.
Sure the network would survive, sure sia-tech would likely survive even such a missed launch...but could siacoin ever recover after such
a fiasco...doubtful...money talks and bullsh*t walks....folk would walk with eventual coin being worth nothing in their vision was not up to
speed on the storage solution when they said and with the asic dump (investment) of equipment not able to be used....ie coin would tank
and likely stay tanked in price IMHO, would be too much of a boat anchor on development etc, folk would move on to other projects with
such a failure, again IMHO.
As far as I understand it...sia-tech was NEVER interested in the siacoin price in that it was based on SCARCITY...they wanted sia to be used by their
ASIC's in a network for the ASIC security...these coins would gain their worth from the use in the ASIC network and the 30% inflation was needed
to expand this decentralized ...cheap 10c to the $1.00 alternative to Amazon and other centralized networks...
thus..it was always assumed by me (at least) that as soon as these ASIC's hit their decentralized network..the network would determine the worth
of siacoin no longer the scarcity from GPU mining etc. What confuses me is IF this was really their goal then why they did not fork siacoin to retain
control over the amount of ASIC miners is a mystery to me...it will be much more than 30% coin inflation a month now...
The good news is IF, they have the sia-tech ready to go for when these ASIC's hit in July and start to firm up the backbone for their vision..no issues
but I hear NOTHING about HOW they plan to convert folk from known centralized storage like Amazon into their vision with NO promotion I'm aware of...
also, no mention of what they are going to do with 5x the ASIC's they expected (if you take out the bitmain units as no longer profitable..a bit iffy that)
right now on coin price...if I had my units NOW I'd make $1 a day...per obelisk unit....thus....the network vision they have tried to do has to come
up to speed and take up the slack or NO ASIC miners will run their network if it costs more than the present siacoin price to run them
but, hey, they got a lot of BTC from the pre-orders last year ..the ave price was like 0.97 BTC in my case....back last July 2017 or so....they did not fork
the coin..after bitmain equipment dump....so maybe they have siacoin in hand and/or the BTC still in hand to cover all the equipment/research etc in the
ASIC's they put out ..so no risk to them there....I just don't see sia-tech having anything on the line with all this either as getting their network up in
time..nor on their 4 batches of obelisks, none of them have shipped yet, where is the hype? where are the promo's? how are you gonna take on Amazon?
deafening silence....
just wonder if they will just watch the ASIC network all kick in...and they will dwadle around half-assed wait and not get their network up in any legit time frame
and it will fail...(a big ho hum from them) and no real risk to them, with all risk on those who are speculating in siacoin and those who bought their line on their ASIC
network vision of 'competing' with Amazon...damn hard to compete if the folk gonna buy in have never heard of your vision/option and no scale-up at all!
from sia-tech already paid for..probably many times over if they kept some of the payments in bitcoin...asic miners left holding the bag
1) ASIC's from obelisk and others, come up...can't mine at present prices...no network of any note to support such..ASIC buyers left holding the bag...
2) folk speculating on siacoin, price can't support itself from all the ASIC's driving up difficulty and price..no more scarcity for price....are left holding the bag
3) after the dust settles ..they can go the new algo route on the letter they sent out with different algo makers and put their decentralized network or
use this now defunct protocol with other asic's in the future...after all the above crashes...lots of options..or they can just fold shop and walk with no issues.
...on that...if it takes them another year to get up to speed to launch anything....see 1) and 2) above of those screwed...but as to the devs and sia-tech
as a whole...no real risk.....called having your cake and eat it too...as an asic maker and or a dev....by that I mean the network gets up..when the network
gets up....dev is set for life as a crypto holder....like luke jr. of bitcoin core...screw everybody...it gets up when they feel like it ..ie again no risk /pressure...
rinse/wash/repeat ..seen this before with projects
so the question remains...if the price is not in the speculation of siacoins for scarcity etc because a crapload of siacoin ASIC's from different mnfg's and
Obelisk ASIC's are going to turn on ...if in sia-tech obelisk's case...middle of July 2018....is their vision/network up to the task of keeping these beasties up
to even support the network...or are you just mining promised and air? ...again, likely future 'bag holder'
you have to have use/volume and their decentralized network 'in play' to pay electric and make extra coin for yourself via the network or all is moot..
or again, is the project not ready, and it is not in their control and thus they are just gonna watch it implode....blame bitmain, blame other mnfg's with blake2b ASIC's and
kick the can down the road...as a re-do? or hell just fold up the project..take whatever income or profits made in the last year or so and walk?
again, seen this before on projects
again, deafening silence on any/all of the above issues
thats how i understand stuff at this point in time anyway...they have to hit the ground running or come the end of July when the ASIC's hit ..I just have
a mess of Obelisk doorstops...
brad
I think you miss some fundamentals here...with influx of ASICS, NOTHING changes with amount of sia coins produced...1 billion ASICS
would produce same number of coins as 3 GPUs (if network would drop down to 3 GPUs level, that is)...only difficulty rises, making
it harder to stay competitive
Back to my point...if ASIC's are needed for the decentralized network they plan and the NETWORK IS NOT IN PLACE YET to compete with Amazon
at the supposed 10c to 1.00 format, etc...and IF the siacoin price NOW is based on scarcity..it won't matter...no one will turn on equip of any flavor
asic, gpu or otherwise for a coin that has no value in that it is 1) no longer based on scarcity for price (esp if 5x the ASIC's driving up difficulty and coin
production) and 2) no network for these ASIC's to contribute to.
you can't have both the coin is either 1) valuable because of scarcity vs use or 2) valutble for use in their decentralized network
I'm just saying I see no such decentralized network in place in any manner large enough nor complete enough to pull the price out of the dumps ..indeed
it will make it worse for price of siacoin in the obvious fact of no network in place and a lot of asic's sitting about..folk will NOT run their asic's at an electrial
loss....price of siacoin will not stay up just on speculaltion of network coming and previous scarcity ..thus plunk
if you doubt that look at the amount of asic's that were dumped vs the LTC price as of today...difficulty overstepped the value of the coin (LTC) ...
so a muddled mess indeed..hope it won't happen....but not hearing a lot of the decentralized network hitting the world at the same time as all the asic's
hit the siacoin world either
sure, amount of sia coin will be 'the same' but a lot of coin does not mean it keeps value....
Again, even if it dropped back to GPU mining and the ASIC's are off the electric use is the same more or less....the coin will not survive if they
say they made a mess of ASIC's for their decentralized solution to storage...and 'guess what' it is not there or they postpone it for a year
and the current crop of asic's are of no use to run....speculators will walk, gpu miners will not compete with asic's that also are going to go
off or in a dismal state...it is like the old paycoin cloud mining viewpoint...if the rug is pulled out from under the concept..than it won't matter
how many coin there are....the consumers will go to more successful coins, that would not have the damage of the above from a late
network launch and asic's in the tank unable to be used for anything of note, because price of siacoin tanks on the above fiasco.
Sure the network would survive, sure sia-tech would likely survive even such a missed launch...but could siacoin ever recover after such
a fiasco...doubtful...money talks and bullsh*t walks....folk would walk with eventual coin being worth nothing in their vision was not up to
speed on the storage solution when they said and with the asic dump (investment) of equipment not able to be used....ie coin would tank
and likely stay tanked in price IMHO, would be too much of a boat anchor on development etc, folk would move on to other projects with
such a failure, again IMHO.
As far as I understand it...sia-tech was NEVER interested in the siacoin price in that it was based on SCARCITY...they wanted sia to be used by their
ASIC's in a network for the ASIC security...these coins would gain their worth from the use in the ASIC network and the 30% inflation was needed
to expand this decentralized ...cheap 10c to the $1.00 alternative to Amazon and other centralized networks...
thus..it was always assumed by me (at least) that as soon as these ASIC's hit their decentralized network..the network would determine the worth
of siacoin no longer the scarcity from GPU mining etc. What confuses me is IF this was really their goal then why they did not fork siacoin to retain
control over the amount of ASIC miners is a mystery to me...it will be much more than 30% coin inflation a month now...
The good news is IF, they have the sia-tech ready to go for when these ASIC's hit in July and start to firm up the backbone for their vision..no issues
but I hear NOTHING about HOW they plan to convert folk from known centralized storage like Amazon into their vision with NO promotion I'm aware of...
also, no mention of what they are going to do with 5x the ASIC's they expected (if you take out the bitmain units as no longer profitable..a bit iffy that)
right now on coin price...if I had my units NOW I'd make $1 a day...per obelisk unit....thus....the network vision they have tried to do has to come
up to speed and take up the slack or NO ASIC miners will run their network if it costs more than the present siacoin price to run them
but, hey, they got a lot of BTC from the pre-orders last year ..the ave price was like 0.97 BTC in my case....back last July 2017 or so....they did not fork
the coin..after bitmain equipment dump....so maybe they have siacoin in hand and/or the BTC still in hand to cover all the equipment/research etc in the
ASIC's they put out ..so no risk to them there....I just don't see sia-tech having anything on the line with all this either as getting their network up in
time..nor on their 4 batches of obelisks, none of them have shipped yet, where is the hype? where are the promo's? how are you gonna take on Amazon?
deafening silence....
just wonder if they will just watch the ASIC network all kick in...and they will dwadle around half-assed wait and not get their network up in any legit time frame
and it will fail...(a big ho hum from them) and no real risk to them, with all risk on those who are speculating in siacoin and those who bought their line on their ASIC
network vision of 'competing' with Amazon...damn hard to compete if the folk gonna buy in have never heard of your vision/option and no scale-up at all!
from sia-tech already paid for..probably many times over if they kept some of the payments in bitcoin...asic miners left holding the bag
1) ASIC's from obelisk and others, come up...can't mine at present prices...no network of any note to support such..ASIC buyers left holding the bag...
2) folk speculating on siacoin, price can't support itself from all the ASIC's driving up difficulty and price..no more scarcity for price....are left holding the bag
3) after the dust settles ..they can go the new algo route on the letter they sent out with different algo makers and put their decentralized network or
use this now defunct protocol with other asic's in the future...after all the above crashes...lots of options..or they can just fold shop and walk with no issues.
...on that...if it takes them another year to get up to speed to launch anything....see 1) and 2) above of those screwed...but as to the devs and sia-tech
as a whole...no real risk.....called having your cake and eat it too...as an asic maker and or a dev....by that I mean the network gets up..when the network
gets up....dev is set for life as a crypto holder....like luke jr. of bitcoin core...screw everybody...it gets up when they feel like it ..ie again no risk /pressure...
rinse/wash/repeat ..seen this before with projects
so the question remains...if the price is not in the speculation of siacoins for scarcity etc because a crapload of siacoin ASIC's from different mnfg's and
Obelisk ASIC's are going to turn on ...if in sia-tech obelisk's case...middle of July 2018....is their vision/network up to the task of keeping these beasties up
to even support the network...or are you just mining promised and air? ...again, likely future 'bag holder'
you have to have use/volume and their decentralized network 'in play' to pay electric and make extra coin for yourself via the network or all is moot..
or again, is the project not ready, and it is not in their control and thus they are just gonna watch it implode....blame bitmain, blame other mnfg's with blake2b ASIC's and
kick the can down the road...as a re-do? or hell just fold up the project..take whatever income or profits made in the last year or so and walk?
again, seen this before on projects
again, deafening silence on any/all of the above issues
thats how i understand stuff at this point in time anyway...they have to hit the ground running or come the end of July when the ASIC's hit ..I just have
a mess of Obelisk doorstops...
brad
I think you miss some fundamentals here...with influx of ASICS, NOTHING changes with amount of sia coins produced...1 billion ASICS
would produce same number of coins as 3 GPUs (if network would drop down to 3 GPUs level, that is)...only difficulty rises, making
it harder to stay competitive
I think I already know the answer to this but I figured I would be safe then sorry. If I download Sia's wallet and transfer my Siacoins to it on my computer and my computer at some point crash's can I rebuild another computer download Sia's wallet again and enter my seeds and retrieve my Sia wallet from the network?
what trading exchanges will support the fork?Yes if you back up your wallet/seeds you can boot up a new wallet on any device and import your data.
I believe the fork mentioned is not from the Sia team but a different project so this wouldnt be the thread to ask what exchanges would support the new coin.
Thank you for your help. I thought so but wasn't sure. Would you recommend backing up on a Flash drive? And are you able to make a couple copies just in case?
Always a good practice to back up in several places. Flash drives are great because they are not tied to the internet and act like cold storage.
Dr Charles you are awesome thank you again. I've never used the Sia UI I've always kept my Sia on an exchange. But figured it's time to put it away for a while so I'm downloading the UI now. It takes some time lol...But at 75.4% so almost there. Again thank you for your quick response.
I think I already know the answer to this but I figured I would be safe then sorry. If I download Sia's wallet and transfer my Siacoins to it on my computer and my computer at some point crash's can I rebuild another computer download Sia's wallet again and enter my seeds and retrieve my Sia wallet from the network?
what trading exchanges will support the fork?Yes if you back up your wallet/seeds you can boot up a new wallet on any device and import your data.
I believe the fork mentioned is not from the Sia team but a different project so this wouldnt be the thread to ask what exchanges would support the new coin.
Thank you for your help. I thought so but wasn't sure. Would you recommend backing up on a Flash drive? And are you able to make a couple copies just in case?
Always a good practice to back up in several places. Flash drives are great because they are not tied to the internet and act like cold storage.
I think I already know the answer to this but I figured I would be safe then sorry. If I download Sia's wallet and transfer my Siacoins to it on my computer and my computer at some point crash's can I rebuild another computer download Sia's wallet again and enter my seeds and retrieve my Sia wallet from the network?
what trading exchanges will support the fork?Yes if you back up your wallet/seeds you can boot up a new wallet on any device and import your data.
I believe the fork mentioned is not from the Sia team but a different project so this wouldnt be the thread to ask what exchanges would support the new coin.
Thank you for your help. I thought so but wasn't sure. Would you recommend backing up on a Flash drive? And are you able to make a couple copies just in case?
Can SSDs be used to mine yet?
What about competition?
I bet all these storage coins will do better than the average GPU/ASIC mining coin from now on, which is great. Wish I hodled more than I do right now.
Is the supply infinite by the way?
What about competition?
I bet all these storage coins will do better than the average GPU/ASIC mining coin from now on, which is great. Wish I hodled more than I do right now.
Is the supply infinite by the way?
I think I already know the answer to this but I figured I would be safe then sorry. If I download Sia's wallet and transfer my Siacoins to it on my computer and my computer at some point crash's can I rebuild another computer download Sia's wallet again and enter my seeds and retrieve my Sia wallet from the network?
what trading exchanges will support the fork?Yes if you back up your wallet/seeds you can boot up a new wallet on any device and import your data.
I believe the fork mentioned is not from the Sia team but a different project so this wouldnt be the thread to ask what exchanges would support the new coin.
I think I already know the answer to this but I figured I would be safe then sorry. If I download Sia's wallet and transfer my Siacoins to it on my computer and my computer at some point crash's can I rebuild another computer download Sia's wallet again and enter my seeds and retrieve my Sia wallet from the network?
what trading exchanges will support the fork?
I think I already know the answer to this but I figured I would be safe then sorry. If I download Sia's wallet and transfer my Siacoins to it on my computer and my computer at some point crash's can I rebuild another computer download Sia's wallet again and enter my seeds and retrieve my Sia wallet from the network?
The Hyperspace team is forking the Sia codebase and will be generating ~3.5B Space Cash to be freely distributed to all Siacoin holders in order to encourage people to learn about and experiment with the Hyperspace network upon public launch.
These Space Cash will be distributed in a ratio of 10 Siacoin (SC) to 1 Space Cash (SPACE). The Space Cash distribution will be based upon a snapshot of the Sia blockchain taken at block 161358, corresponding to approximately the beginning of July 1st, Greenwich Mean Time.
We do not know if any exchanges will support the airdrop, so if you would like to participate you should make sure to have your Siacoin in your personal wallet with your own private seed during the snapshot time.
For timely updates regarding the fork, please join us on our Discord server.
We will be posting a detailed guide on how to retrieve the airdrop as the date draws nearer.
Thank you for your interest in the Hyperspace project!
trading exchanges will support it? Does anyone have information on this issue?
These Space Cash will be distributed in a ratio of 10 Siacoin (SC) to 1 Space Cash (SPACE). The Space Cash distribution will be based upon a snapshot of the Sia blockchain taken at block 161358, corresponding to approximately the beginning of July 1st, Greenwich Mean Time.
We do not know if any exchanges will support the airdrop, so if you would like to participate you should make sure to have your Siacoin in your personal wallet with your own private seed during the snapshot time.
For timely updates regarding the fork, please join us on our Discord server.
We will be posting a detailed guide on how to retrieve the airdrop as the date draws nearer.
Thank you for your interest in the Hyperspace project!
trading exchanges will support it? Does anyone have information on this issue?
great :-) me love snapshot airdops
do You have any official thread on this forum where I can follow the Hyperspace project?
here you are:
https://www.reddit.com/r/HyperSpace/comments/8sbr71/new_to_hyperspace_start_here/
their website:
https://hspace.app/airdrop
The Hyperspace team is forking the Sia codebase and will be generating ~3.5B Space Cash to be freely distributed to all Siacoin holders in order to encourage people to learn about and experiment with the Hyperspace network upon public launch.
These Space Cash will be distributed in a ratio of 10 Siacoin (SC) to 1 Space Cash (SPACE). The Space Cash distribution will be based upon a snapshot of the Sia blockchain taken at block 161358, corresponding to approximately the beginning of July 1st, Greenwich Mean Time.
We do not know if any exchanges will support the airdrop, so if you would like to participate you should make sure to have your Siacoin in your personal wallet with your own private seed during the snapshot time.
For timely updates regarding the fork, please join us on our Discord server.
We will be posting a detailed guide on how to retrieve the airdrop as the date draws nearer.
Thank you for your interest in the Hyperspace project!
trading exchanges will support it? Does anyone have information on this issue?
These Space Cash will be distributed in a ratio of 10 Siacoin (SC) to 1 Space Cash (SPACE). The Space Cash distribution will be based upon a snapshot of the Sia blockchain taken at block 161358, corresponding to approximately the beginning of July 1st, Greenwich Mean Time.
We do not know if any exchanges will support the airdrop, so if you would like to participate you should make sure to have your Siacoin in your personal wallet with your own private seed during the snapshot time.
For timely updates regarding the fork, please join us on our Discord server.
We will be posting a detailed guide on how to retrieve the airdrop as the date draws nearer.
Thank you for your interest in the Hyperspace project!
trading exchanges will support it? Does anyone have information on this issue?
great :-) me love snapshot airdops
do You have any official thread on this forum where I can follow the Hyperspace project?
The Hyperspace team is forking the Sia codebase and will be generating ~3.5B Space Cash to be freely distributed to all Siacoin holders in order to encourage people to learn about and experiment with the Hyperspace network upon public launch.
These Space Cash will be distributed in a ratio of 10 Siacoin (SC) to 1 Space Cash (SPACE). The Space Cash distribution will be based upon a snapshot of the Sia blockchain taken at block 161358, corresponding to approximately the beginning of July 1st, Greenwich Mean Time.
We do not know if any exchanges will support the airdrop, so if you would like to participate you should make sure to have your Siacoin in your personal wallet with your own private seed during the snapshot time.
For timely updates regarding the fork, please join us on our Discord server.
We will be posting a detailed guide on how to retrieve the airdrop as the date draws nearer.
Thank you for your interest in the Hyperspace project!
trading exchanges will support it? Does anyone have information on this issue?
These Space Cash will be distributed in a ratio of 10 Siacoin (SC) to 1 Space Cash (SPACE). The Space Cash distribution will be based upon a snapshot of the Sia blockchain taken at block 161358, corresponding to approximately the beginning of July 1st, Greenwich Mean Time.
We do not know if any exchanges will support the airdrop, so if you would like to participate you should make sure to have your Siacoin in your personal wallet with your own private seed during the snapshot time.
For timely updates regarding the fork, please join us on our Discord server.
We will be posting a detailed guide on how to retrieve the airdrop as the date draws nearer.
Thank you for your interest in the Hyperspace project!
trading exchanges will support it? Does anyone have information on this issue?
great :-) me love snapshot airdops
do You have any official thread on this forum where I can follow the Hyperspace project?
this is very genius, it seems like storage for rent, coinbase transaction. very good idea.
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